Due to the nature and complexity of contracts, agents are expected to have a background in contract law and be knowledgeable in finance, business management, financial and risk analysis, and of course, sports. In order to be a successful sports agent one must not only be a great negotiator, but also be highly motivated, have exceptional communication skills, be prepared to work long hours and handle multiple tasks at the same time.
An agent must be able to apply effective marketing principles. The “Four P’s” of marketing are:
1. Product (or Service) - What does the athlete want from the agent? What needs does the agent satisfy?
2. Promotion- How is the agent successfully promoting the athlete?
3. Price- What value does the athlete give the team? What are other players of the same caliber being paid?
4. Place- Where do fans look for the athlete? What are fan’s perceptions of the athlete? What are competitors doing?
The service that the athlete requires of the agent is that the agent be loyal, trustworthy, and always looking out for the best interests of the athlete. Agents that can effectively communicate the athlete’s worth and successfully negotiate the best possible deal for the athlete, whether it is an employment or endorsement contract are ideal for an athlete. Successful promotion of the athlete’s career, assets both physical and intangible, and other opportunities the athlete can bring to the team/product is an essential part of whether an agent is successful or not. The price is the price negotiated in the contract. An athlete is looking for the best deal possible in order to provide for himself and his family. In order to retain clients an agent must always be able to get his client the best deal possible and create ot...

... middle of paper ...

... allow athletes to get loans from agents makes sense. (2012, March 20). Josh Luchs' proposal to regulate agent loans good for college sports. Retrieved April 7, 2014, from

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